This is the news that gold investors are waiting for by the weekend - Kakiforex.com - Financial Market Media No. 1 in the World This is the news that gold investors are waiting for by the weekend This is the news that gold investors are waiting for by the weekend
InstaForex

June 25, 2021

This is the news that gold investors are waiting for by the weekend

 Gold continued to hover around the same price on Friday amid mixed signals from US Federal Reserve (Fed) policymakers about tightening its monetary policy.


Like previous trading sessions, gold did not display significant movement in the Asian and European sessions, instead being more aggressive in the New York session.


At the start of the European session, gold prices traded around $ 1,780 an ounce, not far from the 7 -week lows touched last week.



Earlier, the market was shown with readings of US Gross Domestic Product (GDP) data that met expectations, a decline in the number of unemployment claims as well as speeches from some Fed officials.


Richmod Fed President Thomas Barkin and New York Fed John Williams each said that the current rise in inflation was only temporary, signaling that it was not the right time to implement a reduction.


While Fed President St. Louis, James Bullard and Dallas Fed's Robert Kaplan have expressed concern over the pressure from rising inflation.


The publication of US personal consumption expenditure (PCE) inflation data once again became the focus of gold investors tonight, which is expected to grow slower than the previous month.